Honestly? I’m psyched to be a renter in this market. Because, let’s be real: Homeownership barely makes sense anymore. Housing prices, of course, have hit record highs in recent years, all while workers’ wages have plateaued. Even rising property values bring steeper tax bills! And for most Americans, this makes homeownership a risky financial crop whose juice, frankly, might not be worth the squeeze.
Never mind the fact that I have $17 in my checking account, and a credit score that automates an overnight care package from Experian. The facts are clear: Homeownership is overrated; potentially, even dumb! And seriously, this knowledge zaps any envy I have for my homeowner friends, who I rarely think about, and wasn’t jealous of before I knew this.
The numbers alone make a case for lifelong renting. For a $400,000 home, I’d have to spend $7,000 a year on maintenance and repairs, $5,000 in annual property taxes and $90,000 to install a backyard plunge pool with obsidian tile detailing and a natural stone waterfall. Best case, even if me and my tight-knit crew split it six ways, I’d still be saving as a renter, because we haven’t even factored in the cost of splurging for saltwater, to say nothing of all the margarita mix we’d need to wash down the endless stream of fajita meat comin’ off the grill, blissed out in the domestic paradise of the American dream.
Compared to those dwelling in an apartment’s interconnected ecosystem, homeowners are deeply isolated. When I think about my homeowner friends in their homes — and I rarely do this — and I close my eyes, and I vividly render them in my mind’s eye, hosting friends past 10 p.m. without fear of a chiding text from the couple downstairs, I think, “Couldn’t be me. Where’s the camaraderie of the mail room, and all the bonding that takes place there from trying to recover our stolen packages?”
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If something breaks in my home, guess what? Not my problem. All I have to do is call my landlord, leave him a voicemail, text him, text him again, then once more, then miss his call, call him back, get his voicemail, and then finally answer his call. The plumber will arrive in 12 days.
The best part of benefiting from financial trends I don’t fully understand? I’ve finally started seeing renting an apartment for what it is: an endless fount of opportunities for human connection. Just last week, when my friends broke down a wall to connect their kitchen and living room, adding a harmonious feng shui that I could tell would meaningfully enrich their lives, I didn’t experience an ounce of envy. Instead, I had the clarity to see my accordion-playing neighbor not as a hurdle, but as an opportunity to enjoy some bad polka, free of charge.
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